The boomer generation is performing better in cryptocurrency projects and investments than millennials and Generation Z, new research cited by Cointelgraph has revealed.
According to research from Bybit and consumer research firm Toluna, 34 percent of boomers have conducted due diligence for “a few days” prior to investing in cryptocurrencies, or 50 percent more than Millennials and Gen Z crypto aficionados.
The boomer generation researched tokenomics, competitors, and potential revenues before investing. Conversely, younger traders preferred reputations and “website aesthetics.”
Research added that “64 percent of North American investors spend less than two hours or don’t DYOR at all.”
Boomers are defined as those born from 1946 to 1964, and typically follow a more conservative approach to investments compared to subsequent generations.
The research added that baby boomer and older generations also scrutinised cryptocurrency purchases along with other monetary investments.
Losing the Love for Crypto?
The news comes after a survey found that just 8 percent of US citizens had positive views on cryptocurrency by late November, namely after the FTX collapse.
A CNBC survey of over 800 respondents found that market sentiment in the digital currency market fell significantly from 19 percent in March last year. Negative responses to cryptocurrency jumped from 25 percent to 43 percent in the eight-month period, it found.
The loss of public support comes amid the ongoing collapse of FTX, Alameda Research, and over 130 affiliate firms, who filed for Chapter 11 bankruptcy in mid-November.
The ailing firm faced a huge liquidity crisis ahead of its 11 November bankruptcy, fuelled by a massive bank run on the platform’s native token, FTT. Before the crisis erupted, the troubled company reportedly hired a retainer worth $12 million to conduct services on behalf of the crypto firm.
Sam Bankman-Fried, the disgraced former chief executive of FTX, has been released on $250 million bail following his arrest in the Bahamas, where he was extradited to the United States.
